Economy - overview:
Niger is a landlocked, sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Agriculture contributes nearly 40% of GDP and provides livelihood for most of the population. The UN ranked Niger as the least developed country in the world in 2015 due to multiple factors such as food insecurity, lack of industry, high population growth, a weak educational sector, and few prospects for work outside of subsistence farming and herding.Since 2011 public debt has increased due to efforts to scale-up public investment, particularly that related to infrastructure. The government relies on foreign donor resources for a large portion of its fiscal budget. The economy in recent years has been hurt by terrorist activity and kidnappings near its uranium mines and by instability in Mali and in the Diffa region of the country; concerns about security have resulted in increased support from regional and international partners on defense. Low uranium prices, demographics, and security expenditures may continue to put pressure on the government’s finances.Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources. Although Niger has sizable reserves of oil, the profitability of these commodities has been called in to question due to the prolonged drop in oil prices. Food insecurity and drought remain perennial problems for Niger, and the government plans to invest a little more in the agriculture sector, most notably irrigation. Niger’s three-year $131 million IMF Extended Credit Facility agreement for years 2012-15 was extended until the end of 2016, although formal private sector investment needed for economic diversification and growth remains a challenge, given the country’s limited domestic markets, access to credit, and competitiveness.

NOTE: The information regarding Niger on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2017 information contained here. All suggestions for corrections of any errors about Niger Economy 2017 should be addressed to the CIA.

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